General Category => General Discussion => Topic started by: honglu69 on February 27, 2019, 07:46:27 pm

This was raised in github issue: https://github.com/marinecoin/marinecore/issues/4

But I think this issue is too important so that it really should take one thread here for discussion with all parties. At recent past in 2018 summer, a miner attacked Marinecoin blockchain with tons of blocks (millions) at 1 second per blocks which destroyed MTC normal blockchain operation. ShorelineCrypto Exchange wallet was always couple of hours out of sync then and not usable. All deposit/withdraw was stopped.

This attack means that Marinecoin blockchain has security issue. One is instant mining prevention on above situation. Second is that this means potentially Marinecoin has 51% attrack risk on exchanges. Currently this is not big deal because only two exchanges have MTC trading, but this poses threat for more exchange listing in the future.

There might be many solutions to this. But I am proposing a Marinecoin Hard Fork to solve this issue with similar method of NewEnglandcoin (NENG). NENG published whitepaper v1.0 on this dynamic diff algo as anti-51% attack anti-instant mining method:https://github.com/ShorelineCrypto/NewEnglandCoin/releases/download/whitepaper_v1.0/NENG_WhitePaper.pdf

NENG v1.2.0/1.2.1 hard fork was released to implement this method. So far so good. Instant mining has been removed. Of course NENG is very different from MTC. I am proposing a difficulty spike of first 1 second as described NENG white paper can be implemented to block instant mining.

In the future, mining of Marinecoin can be further decentralized when the price of Marinecoin goes up in the future. Marinecoin is minable, 1 MTC per block. Not profitable today. But when Marinecoin price goes up in the future, CPU miners can join and mine Marinecoin. This is more of long term decentralization goal, no need for concern for short term.

Although I respect Bruce very much, I think MTC relies too much on Bruce's decision-making at present. It seems fair, but it is dictatorship. MTC can't turn without Bruce at present! MTC has not really started to turn in practice.

I know this feelings. That is why my current project NewEnglandcoin strictly follow decentralization and no single person or entity control NENG just like bitcoin.

I am still not willing to give up Marinecoin. Bruce has done tramendous work for MTC. If he owns majority of MTC, I am pretty sure community has no issue with that. The key is continuation of project. As of now, option future trading, f1cx still is valuable MTC eco system. Let's all wait and hopefully Bruce will come and return to MTC dev work. I also has gut feeling that something personal issues happened to Bruce so that he may need a period of rest or handling before he is willing to return. Right now is pause, just sit and wait.